Mtechtips MCX-SX JPYINR INTRADAY trading analysis 24-04-2017

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 24-04-2017
MTECHTIPS:- Jpy inr weekly-hit 59.45 target next tgt will be 60.7
Yen rupee future this week closed at 59.28 with gain. This was second strong week for yen on account of risk based buying. On daily chart, jpy inr is in uptrend and is in strong bullish momentum as we seeing every dips is getting bought. Trapped most of the shorts at 57.8 low and from then trending higher and higher. On downside 58.7 and 58.3 are support zones as well as buying zones for fresh short term buyers. On upside 59.45-59.65 and then 60.4 are short term target zones or profit booking levels.
From long term view, yen is in downtrend and now built base around 57 and recovering towards major trend resistance of 60.7 rupees.
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